DES MOINES, Iowa (November 1, 2022) – Doug’s Feed Store, Inc., of Baxter, Iowa, has consented to a voluntary revocation of its grain warehouse license, effective October 31, 2022, by the Department of Agriculture and Water. ‘Iowa Land Stewardship. Due to license revocation, Doug’s Feed Store, Inc. is prohibited from storing grain after November 30, 2022.
The revocation of the warehouse license was due to the licensee not being able to provide proof of insurance as required by Iowa Code Section 203C.15 (2020). Doug’s Feed Store, Inc. will retain its grain dealer license.
A grain depositor has three options available to them for their grain storage obligation with Doug’s Feed Store, Inc.
- Remove their grain from the facility no later than November 30, 2022
- Pricing their grain bond for payment no later than November 30, 2022
- Arrange with Doug’s to transfer the warehousing obligation to another approved warehouse no later than November 30, 2022.
Any grain storage obligation must be finalized no later than November 30, 2022.
The Grain Warehouse Bureau of the Iowa Department of Agriculture and Land Management regulates and reviews the financial solvency of grain traders and grain warehouse operators. The functions of the Bureau include licensing of warehouses, review of warehouses, licensing of grain dealers and reviews of grain dealers.